M&A Deal Summary

Priority Acquires Direct Connect Holdings - Merchant Portfolio Assets

On December 31, 2018, Priority acquired financial services company Direct Connect Holdings - Merchant Portfolio Assets from Direct Connect Holdings

Acquisition Highlights
  • This is Priority’s 1st transaction in the Financial Services sector.
  • This is Priority’s 1st transaction in the United States.
  • This is Priority’s 1st transaction in Virginia.

M&A Deal Summary
Date 2018-12-31
Target Direct Connect Holdings - Merchant Portfolio Assets
Sector Financial Services
Buyer(s) Priority
Sellers(s) Direct Connect Holdings
Deal Type Divestiture

Target

Direct Connect Holdings - Merchant Portfolio Assets

Chantilly, Virginia, United States
Direct Connect Holdings LLC - Merchant Portfolio Assets comprises a diverse and low-risk merchant portfolio processing $1.7 billion in annual volume, as well as a productive sales engine contributing to enterprise growth.

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Buyer(S) 1

Buyer

Priority

Alpharetta, Georgia, United States
Category Company
Founded 2005
Sector Information Technology
Employees974
Revenue 756M USD (2023)
DESCRIPTION

Priority is a provider of merchant acquiring and commercial payment solutions, offering unique product and service capabilities to its merchant network and distribution partners. Priority’s enterprise operates from a purpose-built business platform that includes tailored customer service offerings and bespoke technology development, allowing the Company to provide end-to-end solutions for payment and payment-adjacent opportunities. Priority was founded in 2005 and is based in Alpharetta, Georgia.

DEAL STATS #
Overall 1 of 2
Sector (Financial Services) 1 of 1
Type (Divestiture) 1 of 1
State (Virginia) 1 of 1
Country (United States) 1 of 2
Year (2018) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-09-01 Priority Technology Holdings - RentPayment

Alpharetta, Georgia, United States

Priority’s RentPayment business, which is comprised of the RentPayment.com™, StorageRentPayment.com™ and DuesPayment.com™ real estate payment brands.

Sell -

Seller(S) 1

SELLER

Direct Connect Holdings

Chantilly, Virginia, United States
Category Company
Founded 1994
Sector Business Services
DESCRIPTION

Direct Connect Holdings LLC provides customized electronic payment processing, equipment, merchant services, and support to businesses across the United States and Canada. Direct Connect Holdings was established in 1994 and is based in Chantilly, Virginia.

DEAL STATS #
Overall 1 of 1
Sector (Financial Services) 1 of 1
Type (Divestiture) 1 of 1
State (Virginia) 1 of 1
Country (United States) 1 of 1
Year (2018) 1 of 1
Mergr

Product

Company

Legal